Vladimir Putin and Vitalik Buterin Discuss Ethereum 'Opportunities'

The president of Russia briefly met with ethereum inventor Vitalik Buterin during an event last week.

The meeting between Buterin and president Vladimir Putin occurred at the St. Petersburg International Economic Forum, which took place between 1st and 3rd June, following an address to a global group of chief executives.

“Mr. Buterin described the opportunities for using the technologies he developed in Russia. The President supported the idea of establishing ties with possible Russian partners.”

Buterin, who described the meeting as a “brief conversation” on Reddit, did not immediately respond to a request for comment.

Putin’s meeting with global heads of business is notable to the blockchain community for reasons that go beyond the conversation with ethereum’s inventor. In a brief address, the president gave insight into multiple blockchain efforts happening within Russia.

“We are doing a great deal to create a favorable business climate and above all to provide macroeconomic conditions for sustainable economic growth and a stable social system – so that working in Russia is beneficial and pleasant.”

Blockchain efforts accelerate

The news comes less than a week after CoinDesk reported on several bitcoin and blockchain-related announcements out of Russia. First, Russia’s central bank is writing a new law focused on bitcoin and other digital currencies, and also, the Bank of Russia is interested in developing a national cryptocurrency.

In May, CoinDesk reported that the Moscow Exchange Group was in the final stages of tests on a blockchain-based stockholder voting platform using the Hyperledger Fabric which the group hoped would lead to an increased sense of comfort from international investors.

CoinDesk reported today that the Moscow Exchange Group was among early participants in a possible Central Securities Depository consortium aimed at leveraging blockchain efficiencies at the highest levels of the financial sector.

Indeed, Russia’s government, too, has been exploring applications, with Russian Prime Minister (and close Putin ally) Dmitry Medvedev pushing for research into the tech earlier this year.